Comments on: Help For The Upside-Down Owner? http://www.fhaloanpros.com/2008/07/fha-loans-for-the-upside-down-owner/ The Unofficial Guide to FHA Loans & Mortgages Tue, 06 Jan 2009 19:49:45 +0000 http://wordpress.org/?v=2.6 By: Seb http://www.fhaloanpros.com/2008/07/fha-loans-for-the-upside-down-owner/#comment-28656 Seb Mon, 27 Oct 2008 20:09:30 +0000 http://www.fhaloanpros.com/2008/07/fha-loans-for-the-upside-down-owner/#comment-28656 You need to get a pro to help modify the loan if the reset will make it unaffordable. With the way LIBOR and PRIME are heading, rates should not increase with Adjustable loans, but if they do, you DO NOT have to miss payments to get the lender to modify your loan... www.foreclosureavoidancenetwork.com/SebastianMachado You need to get a pro to help modify the loan if the reset will make it unaffordable. With the way LIBOR and PRIME are heading, rates should not increase with Adjustable loans, but if they do, you DO NOT have to miss payments to get the lender to modify your loan…

http://www.foreclosureavoidancenetwork.com/SebastianMachado

]]> By: plm http://www.fhaloanpros.com/2008/07/fha-loans-for-the-upside-down-owner/#comment-24035 plm Thu, 04 Sep 2008 03:42:28 +0000 http://www.fhaloanpros.com/2008/07/fha-loans-for-the-upside-down-owner/#comment-24035 Hey jdj, You must have made a million of these loans and spew crud so you can feel better for the crud you helped spew! Home Lenders and builders lied and spew a bunch of lies, knowing what was coming, perhaps more than the new home buyer! Don't judge until you have walked in another's shoes! Good luck to Jose and Tammy! Hey jdj,

You must have made a million of these loans and spew crud so you can feel better for the crud you helped spew!

Home Lenders and builders lied and spew a bunch of lies, knowing what was coming, perhaps more than the new home buyer!

Don’t judge until you have walked in another’s shoes!

Good luck to Jose and Tammy!

]]> By: Tammy http://www.fhaloanpros.com/2008/07/fha-loans-for-the-upside-down-owner/#comment-19939 Tammy Fri, 11 Jul 2008 16:32:53 +0000 http://www.fhaloanpros.com/2008/07/fha-loans-for-the-upside-down-owner/#comment-19939 I refinanced my home to use the equity 2 years ago. My broker said "Lets do an ARM and you can refinance in 2 years" Two years later my house is worth $140k and I owe $170k so NO ONE will refinance us. Our rate is set to go from 7.99 to 12% in 2 months.. My mortgage company will not modify my mortgage unless I don't pay it.. I've never been late on a bill in my life. It's either my credit or my home...I feel hopeless too. I refinanced my home to use the equity 2 years ago. My broker said “Lets do an ARM and you can refinance in 2 years” Two years later my house is worth $140k and I owe $170k so NO ONE will refinance us. Our rate is set to go from 7.99 to 12% in 2 months.. My mortgage company will not modify my mortgage unless I don’t pay it.. I’ve never been late on a bill in my life. It’s either my credit or my home…I feel hopeless too.

]]> By: jdj http://www.fhaloanpros.com/2008/07/fha-loans-for-the-upside-down-owner/#comment-19894 jdj Fri, 11 Jul 2008 02:21:58 +0000 http://www.fhaloanpros.com/2008/07/fha-loans-for-the-upside-down-owner/#comment-19894 What is the problem? Those are paper loses you speak of. If you bought the house as a long-term investment, and why else would anyone buy a home, why should you care about the daily ups and downs of the market? Over the long term the house will appreciate and by the time you retire it should be back in the black. "Screwed" by whom? Were you promised that house prices only go up by a real estate professional? What was your original plan for when the interest-only loan reset, refinance into another IO loan? What is the problem? Those are paper loses you speak of.

If you bought the house as a long-term investment, and why else would anyone buy a home, why should you care about the daily ups and downs of the market?

Over the long term the house will appreciate and by the time you retire it should be back in the black.

“Screwed” by whom? Were you promised that house prices only go up by a real estate professional? What was your original plan for when the interest-only loan reset, refinance into another IO loan?

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